Workers’ compensation insurance is designed to protect both employees and employers in case of on-the-job injuries in Florida. If an employee has a work-related injury or illness, the insurance company will pay the injured worker’s medical expenses in most cases and a portion of lost wages, if applicable. Coverage shows no dollar limit for the benefits provided since any applicable limits would be those established within the Florida law. Benefits under this coverage are paid to the employee without regard to fault.
Employer Liability (Bodily Injury By Accident/Disease)
This coverage protects Florida employers for their legal liability for bodily injury by accident or disease to an employee arising out of and in the course of the employee’s employment when not covered under the standard workers compensation law. Before benefits are paid under this coverage, the employee must prove the employer is liable for the injury. This coverage is typically involved when an employee's spouse or family want to sue the employer.
Bodily Injury By Accident limits are the most an insurer will pay under this coverage for all claims arising from any one accident, regardless of how many employees are involved. The standard limit is $100,000 for any one accident, which can be increased.
Policy Limit is the aggregate limit the insurer will pay for all claims sustaining bodily injury by disease during the policy period. The standard policy limit is $500,000, which can be increased.
Endorsements & Exemptions
Workers Compensation laws of most states exempt some types of employment from benefits. A Voluntary Compensation Endorsement amends the standard policy to provide coverage for employees with exempted occupations. When the endorsement is added it does not make employees subject to the law, but it obligates the insurance company to pay on behalf of the insured, an amount equal to the compensation benefits that would be payable to those employees if they were subject to the workers compensation law of Florida.
In Florida, workers compensation law allows an insured to include or exclude Executive Officers and Partners, or both, from coverage. Adding specific endorsements can designate the individuals not covered under the policy.